Abram Interstate Insurance Services, Inc., CMGA

Helping Independent Insurance Agents Since 1996

Don’t be like Justin H.’s agent – Help him insure older apartment buildings now.

Published on June 9, 2015

3890390645_04ccf98a30photo credit: 26 Dale Street S. St. Paul, MN USA via photopin (license)

Justin H., a Real Estate investor logs onto a business forum to try to find help from people in similar shoes. He writes,

I bought my first investment property a few months ago, a SFR. Starting to think about the next one now. I have all my personal lines of insurance (2 autos, 2 small term life policies, homeowners) and now my 1 SFR with [SPECIFIC CARRIER] through a local agent. He said to insure a rental property with them the property “must be less than [XX] years old and have had recent updates (last 10-15 years) to roof, HVAC, electrical and plumbing”.

I don’t have a problem with the recent updates part of that but there are a number of areas locally I am interested in that have homes more than [XX] years old. Is this something commonly encountered? Do certain insurance companies have more of a problem with this than others?

Justin H.’s agent was right — not every carrier will insure older apartment buildings. And unfortunately his insurance agent didn’t seem to give him any helpful alternative options with other carriers. You can do better than that for your clients who own rental properties like apartment buildings, though. Because if you are an Abram Interstate broker, you have access to our market for apartment buildings INCLUDING OLDER BUILDINGS. Of course updates need to be in place, but as Justin himself said, most property owners will understand/expect this to be the case.

Help your customers avoid this problem by offering them our market for older apartments. Don’t be like Justin H.’s agent and make them turn to the internet for answers. We’ve got the answer for you.

Apartments Insurance Product Highlight

Underwriting Summary

  • Apartments that are more than 6 stories must be sprinklered not to exceed 7 stories.
  • Smoke detectors in all units.
  • Minimum occupancy rate of 80%.
  • Mercantile exposures cannot exceed 25% of the total building area.
  • Pools must be fenced and equipped with a self-closing, self-locking gate life-saving ring and shepherds hook.

Package: Property and General Liability

Higher Deductibles Available

Optional Coverages

  • Building owners endorsement is available.
  • Blanket limits building and business personal property coverage is available
  • Business income and extra expense
  • Basic/ Broad/ Special Form
  • Replacement cost or ACV
  • Building
  • Contents
  • Signs
  • Crime

Click here to submit a one-page quick-quote application now!


Abram Interstate Insurance Services, Inc. is a California wholesale insurance broker (CMGA) that has licensing and expertise to place business in both admitted and non-admitted markets for personal lines insurance and commercial lines insurance in California and surrounding areas.

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